SHERIDAN, WYOMING - January 1, 2026 - Platinum Equity says it has completed its acquisition of the Owens & Minor Products & Healthcare Services business, establishing the operation as a privately held standalone company focused on medical supply distribution for the acute care market in the United States.
Transaction completion and standalone operating model
Platinum Equity said the acquired business will retain the Owens & Minor brand and continue operating as Owens & Minor P&HS within Platinum's portfolio. The seller retained a five percent interest in the business and said its remaining operations will be rebranded as Accendra Health, Inc., effective December 31, 2025. For healthcare supply chain stakeholders, the completion clarifies ownership and sets the foundation for a carve-out transition in which governance, operating cadence, and performance priorities can be reset without competing internal mandates from a larger corporate structure.
What Owens & Minor P&HS does in the acute care supply chain
Headquartered in Richmond, Virginia, Owens & Minor P&HS is described as a vertically integrated medical supply distribution platform primarily serving the acute care market. Platinum said the business is a leading national distributor of medical and surgical supplies for hospitals, health systems, and other healthcare providers across the United States. In an environment where provider systems increasingly evaluate vendors on reliability, service levels, and continuity planning, distribution platforms that can execute across procurement, fulfillment, and replenishment cycles play a direct role in clinical operations and cost containment.
Platinum's carve-out thesis and expected value creation levers
Platinum Equity positioned the acquisition as an opportunity to apply its carve-out experience and operating resources to strengthen performance and expand capabilities. "For more than 140 years, Owens & Minor has been guided by a strong sense of purpose, and we are proud to support its next chapter as a standalone business," said Jacob Kotzubei, Co-President of Platinum Equity. "With our sector expertise, carve-out experience, and operational resources, we can help the company become an even more agile and responsive partner to the healthcare industry it serves. We will work with the company to strengthen its foundation, expand its capabilities, and ensure it continues delivering essential products and services when and where customers need them most."
From a B2B execution standpoint, carve-outs often succeed or fail on how quickly the standalone company stabilizes core processes, aligns service levels with customer expectations, and builds decision-making speed while maintaining quality and compliance. The emphasis on agility and responsiveness signals a focus on service performance and a tighter operating rhythm as a standalone distributor.
Operational priorities: continuity first, then performance improvements
Platinum Equity Managing Director Matthew Louie highlighted continuity as the central requirement during transition, paired with targeted operational improvements. "Owens & Minor P&HS has a proud legacy of putting customers first, and we are excited to help carry that forward," said Louie. "Our goal is to ensure continuity while making thoughtful improvements that keep the company dynamic, responsive, and aligned with the evolving needs of its customers. We will work closely with the team to help strengthen fulfillment performance, drive operational excellence across manufacturing and distribution, and accelerate growth in proprietary products. At the same time, we will invest in supply chain enhancements to help improve efficiency and resiliency."
For provider customers and health system supply chain leaders, these priorities map to measurable outcomes such as order accuracy, fill rates, lead times, and resilience planning. Based on Platinum's stated focus areas, the near-term operational agenda centers on:
- Strengthening fulfillment performance
- Driving operational excellence across manufacturing and distribution
- Accelerating growth in proprietary products
- Investing in supply chain enhancements to improve efficiency and resiliency
Advisors and governance support for the transaction
Platinum Equity said Bank of America and Fifth Third served as its financial advisors on the acquisition. Gibson, Dunn & Crutcher LLP served as legal advisor, Willkie Farr & Gallagher LLP served as debt financing counsel, and Latham & Watkins LLP served as special regulatory counsel. Citi and Wells Fargo acted as financial advisors to Owens & Minor, with Kirkland & Ellis serving as Owens & Minor's legal advisor. These disclosures underscore the multi-disciplinary work required to close a carve-out in a regulated healthcare supply chain environment.
What to watch as the standalone company moves forward
Platinum Equity described itself as a global investment firm founded in 1995 with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies, and said it has completed more than 500 acquisitions. For the Owens & Minor P&HS business, the key watch items will be how quickly the standalone structure translates into operational improvements without disrupting service to hospitals and health systems, and how investments in distribution and supply chain capabilities reinforce reliability for acute care customers.
Learn more at https://www.platinumequity.com/our-companies/